KUALA LUMPUR (July 30): Malakoff Corp Bhd has signed a Memorandum of Understanding with Koperasi Polis Diraja Malaysia Bhd for studying the feasibility of jointly developing rooftop solar projects at selected Royal Malaysia Police (PDRM) building premises.

In a statement, the group said the collaboration is part of the Net Energy Metering 3.0 scheme or for self-consumption, whereby the electricity generated via solar energy will be supplied to PDRM under a long-term power purchase agreement.

It said the power generated from these rooftop solar projects will be at a lower tariff than that of the national grid, which could result in cost savings for PDRM.

Malakoff managing director and chief executive officer Anwar Syahrin Abdul Ajib said renewable energy (RE) is expected to account for 31% of the capacity mix by 2025, and the group aims to be at the forefront of Malaysia’s transition towards sustainable energy.

“To date, we have successfully secured rooftop solar projects with a total capacity of 22.32 MW with several reputable clients and we will continue to explore potential opportunities with strategic partners such as PDRM.

“We look forward to supporting PDRM’s sustainability goals via the use of renewable green energy as an initiative in supporting the government’s RE targets. We shall remain true to our value creation ideals by continuing our sustainability-centred initiatives to create tangible benefits for our ecosystem of stakeholders in the long run,” he said.

Recently, the group had secured six rooftop solar projects with the DRB-Hicom Group, and had also collaborated with Aeon Co (M) Bhd, Northport (Malaysia) Bhd, Johor Port Bhd and Pos Malaysia Bhd.

It said these projects will generate a combined 33,243MWh per annum and neutralise 23,070 tonnes of carbon emissions per year.

Malakoff’s share price closed one sen or 1.2% lower at 82 sen, giving it a market capitalisation of RM4.1 billion.